Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and bioactive molecules. Its reactivity allows for the introduction of iodine functionality, which is valuable in cross-coupling reactions such as Suzuki or Heck reactions. Commonly employed in the development of radiolabeled compounds for medicinal imaging and tracer studies due to the presence of iodine, which can be easily substituted with radioactive isotopes. Also serves as a building block in the synthesis of peptides and modified amino acids, where the iodo group enables further functionalization. Its methylamide structure enhances stability and solubility in various solvents, making it suitable for multistep synthetic routes in drug discovery.